Re: BLACK MONDAY COMING UP????
in response to
by
posted on
Oct 25, 2008 08:51AM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
I agree with you Somchai. I inexplicably became very optimistic late Friday and printed out several gold/silver stock charts. I believe we have arrived at the point where many reversals will suddenly take place. We're about to get a nice chocolate dip on that ice cream that gave us all tooth and head aches. Gold, silver (solid JPMs), oil/energy with Loonie and Uranium (lagging) are presenting us with opportunities never before seen for both the scope and the short time frame to be realized (reversed compression). The U.S. dollar is about to head south bigtime. I'm looking for many JPMs to double by Christmas latest...but probably much sooner.
The shorts, both leagle and illegal, in these sectors have made their immense profits and will now be looking for the upside which they have the heft to amplify. Regulators will still be looking the other way so the nonsense will now favor the upside in those sectors (insider crap etc.). GS is now net long gold for the first time in years. Trillions of dollars of cash is just waiting for any hint of daylight. The disconnect from the supply/demand fundamentals (energy, PMs and soft commdities) will end as the reversals gather incredible momentum. Credit easing "may" unleash inventories held for shipping at docks all over the world. In skitterish markets that now exist globally, anything turning positive will gather momentum exponentially...probably overshooting to the other extreme before crystalizing into long term trends after a stabilizing consolidation. I'm suspecting that the derivatives monster will be held at bay for a few months at least..just a guess.
Throw the charts out the window when it comes to certain historical comparisons. The global financial and geopolitical gyroscopes are wobbling unpredictably so determining market flight paths will be best deduced by sighting and intuitive judgement while furtively scanning the horizon and watching out for uncharted mountain peaks.
All this is just my guess and not meant in any way to be investment advice. I'll leave that to the "experts".